Braze (NASDAQ:BRZE) Upgraded to “Hold” at Macquarie

Macquarie upgraded shares of Braze (NASDAQ:BRZE) to a hold rating in a research note published on Wednesday, Zacks.com reports.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. dropped their price target on Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Loop Capital reissued a “buy” rating and issued a $75.00 price target on shares of Braze in a research note on Tuesday, September 24th. Scotiabank raised Braze from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $48.00 to $56.00 in a research note on Wednesday, July 10th. JMP Securities restated a “market outperform” rating and set a $68.00 price objective on shares of Braze in a report on Tuesday, September 24th. Finally, Piper Sandler decreased their price objective on Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $55.32.

Braze Stock Down 1.7 %

Braze stock opened at $31.46 on Wednesday. The stock’s 50 day moving average is $35.13 and its 200 day moving average is $38.14. Braze has a one year low of $29.18 and a one year high of $61.53.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The company had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. During the same period in the previous year, the firm earned ($0.30) earnings per share. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. On average, equities research analysts forecast that Braze will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling at Braze

In other Braze news, CAO Pankaj Malik sold 2,453 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $41.37, for a total value of $101,480.61. Following the completion of the transaction, the chief accounting officer now owns 70,527 shares in the company, valued at $2,917,701.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Braze news, major shareholder Roger H. Lee sold 56,830 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the transaction, the insider now owns 56,830 shares in the company, valued at $1,720,244.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Pankaj Malik sold 2,453 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $41.37, for a total value of $101,480.61. Following the completion of the transaction, the chief accounting officer now owns 70,527 shares of the company’s stock, valued at $2,917,701.99. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 201,658 shares of company stock worth $7,980,396 in the last quarter. 24.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Covestor Ltd lifted its position in shares of Braze by 401.1% during the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after buying an additional 738 shares during the last quarter. Comerica Bank lifted its position in shares of Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after buying an additional 276 shares during the last quarter. Quarry LP purchased a new position in shares of Braze during the 2nd quarter valued at $50,000. RiverPark Advisors LLC lifted its position in shares of Braze by 360.9% during the 1st quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock valued at $80,000 after buying an additional 1,411 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of Braze by 17.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock valued at $85,000 after buying an additional 290 shares during the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Company Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers Braze software development kits that automatically manage data ingestion and deliver mobile and web notifications, in-application/in-browser interstitial messages, and content cards; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; Partner Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data.